Can You Negotiate a Lease Buyout?

Most South Riding drivers know that you have two options when selecting a vehicle: leasing or purchasing; however, not every driver knows what option is best for them. The good thing is that typically you don’t have to know the answer immediately. If you start with a lease and end up liking the vehicle, you may be able to buy out your lease before or at the end of your term. Can you negotiate a lease buyout? The answer is usually yes! Your contract actually has a clause giving an estimated buyout price, but it’s possible to negotiate a lower number. 

How to Negotiate a Car Lease Buyout

If you’re not sure how to start, we’ve got some instructions that might help you feel better about negotiating. Here are some steps we suggest you take before or at the end of the your lease: 

1. Research ahead of time – Your contract typically includes an estimate of the vehicle’s value. By looking at sites like Kelly Blue Book, you’ll be able to find the current market value of your vehicle. If the price you find is different from the estimated value in your contract, you’ll have leverage to negotiate a better price.
2. Contact your financier in advance – Note that the dealer you go to may not be the only entity that determines the cost of your lease buyout. To be in the best position, negotiate directly with the financier ahead of time (ie: local bank) to see if they’ll accept a lower number. 
3. Make an offer – Now that you’ve researched and organized your finances, you should be confident and prepared to approach the dealer with a lease buyout offer you’re comfortable with. If you can prove the estimate given in your contract is over market price, dealers like Mercedes-Benz of Chantilly will usually offer a price closer to the one you requested.

Picking the Right Lease Buyout

The steps above are very important. Another factor to consider is timing. Most Centerville drivers prefer an end-of-lease negotiation, but some contracts allow you to do a lease buyout early before the lease is up. The difference between an early buyout and a lease-end buyout is: 

• Drivers who are close to going over the mileage and service limits should consider an early lease buyout. The amount you still owe on the lease and the vehicle’s estimated remaining value at the term will be taken into consideration when calculating the pricing for this buyout option. 
• The cost of a lease-end buyout is typically determined in the contract at the start of the lease. You’ll want to follow the steps above to negotiate the best price possible. 

Lease or Buy with Mercedes-Benz of Chantilly!

Take on Ashburn roads with a new car from Mercedes-Benz of Chantilly! Whether you choose to lease or purchase, our finance team will guide you through the process. Check out our lease specials and use our payment calculator to determine which vehicle best fits your budget and lifestyle. We hope to see you soon!

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